WASHINGTON TRUST Co Invests $221,000 in Marathon Petroleum Corp (MPC)

WASHINGTON TRUST Co bought a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,345 shares of the oil and gas company’s stock, valued at approximately $221,000.

A number of other hedge funds have also made changes to their positions in MPC. Janus Henderson Group PLC boosted its position in shares of Marathon Petroleum by 808.8% in the second quarter. Janus Henderson Group PLC now owns 603,168 shares of the oil and gas company’s stock worth $31,565,000 after purchasing an additional 536,795 shares during the period. Gotham Asset Management LLC bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $3,817,000. BlueCrest Capital Management Ltd bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $992,000. Caxton Associates LP bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $450,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $8,320,000. 80.84% of the stock is owned by institutional investors and hedge funds.

In other news, VP Raymond L. Brooks sold 13,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $62.26, for a total value of $809,380.00. Following the sale, the vice president now owns 32,205 shares of the company’s stock, valued at $2,005,083.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP C. Michael Palmer sold 17,298 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total transaction of $1,116,585.90. The disclosure for this sale can be found here. Insiders have sold 72,276 shares of company stock valued at $4,645,189 in the last quarter. 1.05% of the stock is owned by company insiders.

MPC has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Barclays upped their price target on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Credit Suisse Group initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $83.00 price target for the company. UBS Group lowered shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and upped their price target for the stock from $63.00 to $65.00 in a research report on Sunday, November 26th. Finally, Cowen restated a “buy” rating and set a $60.00 target price on shares of Marathon Petroleum in a research report on Tuesday, October 17th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.08.

Shares of Marathon Petroleum Corp (NYSE:MPC) traded up $2.26 during trading hours on Wednesday, hitting $68.34. 3,176,619 shares of the company were exchanged, compared to its average volume of 3,957,074. Marathon Petroleum Corp has a 12-month low of $47.78 and a 12-month high of $73.53. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $31,478.22, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.49.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The business had revenue of $21.24 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter last year, the business earned $0.43 earnings per share. Marathon Petroleum’s quarterly revenue was up 22.9% compared to the same quarter last year. equities research analysts anticipate that Marathon Petroleum Corp will post 5.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, February 20th. This represents a $1.84 annualized dividend and a yield of 2.69%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.40. Marathon Petroleum’s dividend payout ratio (DPR) is 23.12%.

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Marathon Petroleum Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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